SandRidge Energy (SD -2.4%) shares sink to their lowest levels since November, a drop that's...

|About: SandRidge Energy, Inc. (SD)|By:, SA News Editor

SandRidge Energy (SD -2.4%) shares sink to their lowest levels since November, a drop that's blamed on TPG-Axon's presentation (summary) outlining SD management's "record of massive value destruction." The company claims replacing its board, as the hedge fund suggests, would lead to a default under its credit agreement and require it to make an offer to repurchase its senior notes.